Cairns April 2017

The month in review: Cairns

By Herron Todd White
April 2017

Hot is not exactly a word used to describe the Cairns market at present; moderate would be more appropriate. However one of the more vigorous elements of the Cairns market at present is the bellwether suburbs of Edge Hill and Whitfield, which are benefiting from strong turnover and moderate price uplift.

Edge Hill is located approximately five kilometres from the Cairns city centre. It contains a wide spectrum of housing styles and ages, ranging from average-quality dwellings in its lower reaches, through to executive-quality dwellings in its upper areas. The adjoining suburb of Whitfield is located approximately seven kilometres from the Cairns city centre, and likewise comprises a mix of average to executive-quality and prestige dwellings. Edge Hill in particular is also benefiting from ongoing gentrification as older style homes are upgraded and renovated, as well as some new higher density and modern developments on subdivided sites.

Houses sold in the two suburbs during 2016 ranged widely in price, starting at $245,000 for a basic renovator special and extending through to $1.5 million for an executive-quality home. A median 2016 house price for the two suburbs combined of $505,000 is evident, significantly above the Cairns median overall of $400,000. The area’s popularity is driven by its perception as a good-quality to prestige location within reasonable proximity of the CBD.

 

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